COMPANY NEWS

COMPANY NEWS; Eskimo Pie Stake

Published: January 18, 1992

RICHMOND, Jan. 17—
The Reynolds Metals Company terminated negotiations with Nestle U.S.A. Inc. to sell Reynolds's majority interest in the Eskimo Pie Corporation. The Richmond-based Reynolds owns 84 percent of the ice cream company. Reynolds said it plans to file with the Securities and Exchange Commission for a public offering of Eskimo Pie stock within 45 days. "The companies could not agree on definitive terms to complete the transaction," a Reynolds statement said. Reynolds began negotiating with Nestle U.S.A., a unit of Nestle S.A. of Switzerland, in October. Reynolds has owned Eskimo Pie Stock since 1921.